The passion of the teacher is often the inspiration for the student. In Living Economics: Yesterday, Today, and Tomorrow, Peter J. Boettke illuminates how economics affects all walks of life, whether in the marketplace, voting booth, church, family, or any human activity. Boettke believes that economics is not merely a game to be played by clever professionals, but a discipline that touches on the most pressing practical issues at any historical juncture. The wealth and poverty of nations are at stake; the length and quality of life turns on the economic conditions individuals find themselves living with.Economics provides a powerful framework for understanding what goes on in the marketplace, the voting booth, the family, the community, and every other sphere of social activity; indeed, the application (or misapplication) of its principles shapes the fate of nations. So teaching and learning economics are high stakes ventures. Living Economics introduces us to major thinkers: from Smith, Say, and Bastiat of the Classical School, to Neoclassical and Austrian scholars (Menger, Mises, Hayek, Kirzner, and Rothbard) on to New Institutional economists (Alchian, Coase, Demsetz, North, Ostrom and Williamson) and Public Choice theorists (Buchanan, Tullock, and others). This engaging and reasoned book is a must-read for economists, students, and everyone else who wishes to better understand economics.» Read the Full Summary

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Praise for Living Economics:

“Living Economicsis a superb book. . . . It is vintage Boettke: engaging, witty, and chock full of insight. This book should be put in the hands of every first-year student of economics!”
—Bruce Caldwell, Research Professor of Economics and Director, Center for the History of Political Economy, Duke University

“Boettke’s extraordinary intellectual generosity and unmatched intellectual enthusiasm [are] rare qualities which have enabled him to discover nuggets of valuable theoretical insight in the work of a wide array of economists, many of whom are generally thought to be far away from the Austrian tradition which Boettke himself splendidly represents.”
—Israel M. Kirzner, Professor Emeritus of Economics, New York University

“Living Economics is a solid book that counters the excessive simulations of modern academic economics while, at the same time, avoiding the temptation to extend application of the logic beyond reasonable limits.”
—James M. Buchanan, Jr., Nobel Laureate in Economic Sciences, Advisory General Director of the Center for Study of Public Choice, and Distinguished Professor Emeritus of Economics, George Mason University

“Boettke’s passion for economics and the clarity of his vision make Living Economicsa pleasure to read. No reader will fail to benefit from his broad and deep insights.”
—Steven E. Landsburg,Professor of Economics, University of Rochester; author, The Armchair Economist

“Living Economics is inspired by Boettke’s students and great teachers, such as Boulding and Kirzner, and the central theme that economics has strayed dangerously from a ‘mainline’ emphasis on process and rules, as opposed to outcomes. The mainline sinew is rooted in Adam Smith’s The Theory of Moral Sentiments extending to Hayek, Ostrom and other moderns whom Boettke examines with deep understanding of their relevance for our time.”
—Vernon L. Smith, Nobel Laureate in Economic Sciences; George L. Argyros Endowed Chair in Finance and Economics, Chapman University School of Law

“Loaded with content well worth reading and carefully arrayed gems from the history of thought. . . . But be careful as you read, Boettke’s love affair with economics is contagious. You will find yourself cheering for more.”
—Bruce Yandle, Professor of Economics Emeritus, Clemson University

“Boettke’s deep scholarship, serious reflections and passion for economics come through on every page.”
—Steve H. Hanke,Professor of Applied Economics, Johns Hopkins University

“Living Economics is a spirited, passionate, and exciting tour of free-market economics. I enjoyed every page!”
—Andrei Shleifer, Professor of Economics, Harvard University; Faculty Research Fellow, National Bureau of Economic Research